Treasury Says Banking Not “Financial Services”, Handing ~$2.5B Windfall to Banks
via splinternews: This piece is co-published with investigative reporting outlet Capital & Main. Do “financial services” include banking? Not according to the Trump administration, whose new rule, issued Wednesday by the Treasury Department, argues there is a difference — and then cites the alleged difference as a means of extending lucrative tax breaks to the banking industry. … Read more